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US Stock Futures Down After China Trade Data

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US stock futures are lower this morning after disappointing Chinese trade data. Futures for the Dow Jones Industrial Average dipped 42 points to 13,096.00 and S&P 500 index futures fell 4.70 points to 1,395.90. Nasdaq 100 futures dropped 6.50 points to 2,711.25.

US stocks closed little changed on Thursday, with the Dow Jones Industrial Average dropping 0.08% to 13,165.19, the S&P 500 index rising 0.04% to 1,402.80 and the Nasdaq 100 index gaining 0.25% to 3,018.64.

Data on import prices for July will be released at 8:30 a.m. ET. However, the Federal budget for July will be released at 2 p.m. ET.

Harman International Industries (NYSE: HAR) is projected to report its FQ4 earnings at $0.65 per share on revenue of $1.10 billion. hiSoft Technology International Ltd (NASDAQ: HSFT) is expected to report its Q2 EPS at $0.29 on revenue of $71.29 million.

J.C. Penney (NYSE: JCP) is projected to report a Q2 loss at $0.26 per share on revenue of $3.2 billion. Xinyuan Real Estate Co Ltd (NYSE: XIN) is estimated to report its Q2 EPS at $0.40 on revenue of $213.30 million.

SandRidge Mississippian Trust I (NYSE: SDT) is projected to report its Q2 earnings at $0.82 per share on revenue of $24.62 million. Simcere Pharmaceutical Group (NYSE: SCR) is estimated to post its Q2 earnings at $0.10 per share on revenue of $86.83 million.

Fusion-io (NYSE: FIO) reported stronger-than-expected fourth-quarter earnings and issued an upbeat forecast revenue for the September period.

DeVry (NYSE: DV) reported upbeat fourth-quarter earnings.

Nvidia (NASDAQ: NVDA) reported upbeat Q2 adjusted earnings.

European markets were lower today. The STOXX Europe 600 Index fell 0.35%, London's FTSE 100 Index dropped 0.12%, French CAC 40 Index declined 0.77% and German DAX 30 index fell 0.51%.

Asian markets ended lower, with Japan's Nikkei Stock Average dipping 0.97%, China's Shanghai Composite falling 0.24% and Australia's S&P/ASX 200 dropping 0.63%. Hong Kong's Hang Seng Index declined 0.66% and India's Sensex fell 0.02%.

China's trade surplus for July fell to $25.1 billion, from $31.7 billion in June. The country's exports increased 1% y/y, while imports surged 4.7%.

The ICE dollar index (DXY) gained 0.16% to 82.73, versus 82.646 late Thursday in North America. The euro dropped 0.28% versus the dollar to trade at $1.2272.

The US dollar fell 0.16% against the Japanese yen to trade at ¥78.4450, down from ¥78.57.

Crude for September delivery dropped $1.04 to $92.32 a barrel. Gold for December delivery dropped $7.50 to $1,612.60 an ounce.

Posted-In: US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

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